Tips for buying properties in foreign countries

Tips for buying properties in foreign countries

The current economic turmoil in US and European nations have led to a sharp fall in property prices there making them extremely lucrative for non-resident Indians as well as resident Indians to invest in.

More and more Indians are opting for offshore properties as a second home in exotic locations.

However the process of purchasing a property in foreign countries has its own share of complexities, which need to be addressed before committing the money.

Properties owned by banks as a result of foreclosure or as non performing assets are the most sought after while there are a few places, which advertise their real estate as means of secure investments for foreigners.

Tips for buying properties in foreign countries

The sea side resort of Pattaya is offering three bed room independent houses at prices as little as Rs 60 to 70 lakh (Rs 607 million) which are pretty competitive compared to such houses in Tier 1 cities of India.

US is, usually, preferred by Indians who have either studied there or have worked for some time.

Despite the high prices of real estate in Dubai, it is still popular due to its proximity to India and the presence of large Indian diasporas in the city.

Click on NEXT for more...

Image: A general view shows the beach town of Pattaya.Photographs: Chaiwat Subprasom/Reuters

Powered by BankBazaar.com is an online marketplace where you can instantly get loan rate quotes, compare and apply online for your personal loan, home loan and credit card needs from India's leading banks and NBFCs.Copyright 2016 www.BankBazaar.com. All rights reserved.